Yangon soon to be metropolis

update myanmar news

Myanmar’s government is making preparation to accommodate the growing number of population in Yangon and seeking inputs from the international and local community in making the transition as the city is expected to house about 10 million people in the near future.

The construction minister Kyaw Lwin said, the government has invited foreign developers to join and boost the city’s developments as the National Comprehensive Development Plan is set.

Foreign investors are interested in infrastructure developments of the city. Especially, the South Korean investors are conducting surveys with their own plans. Developers from Japan and Asean cities like Singapore and Malaysia are gathering momentum to plunge into developing infrastructure sector,” the director Win Zaw of the Human Settlement and Housing Development Department (HSHD) told the Eleven Media.

“The government and Asia Development Bank (ADB) have agreed to implement the development projects in Yangon and Mandalay. The relevant ministries do not have many plans and projects to accommodate 60 million of the country’s population. So we will be drawing more pans for developments countrywide. We are now building low-cost housings in new townships of Yangon,” the deputy director Mi Mi Tin for the HSHD said.

“According to the information I gather, Yangon will be a metropolitan soon. Infrastructure constructions like roads, bridges and building should be considered to build for next generations. Mass transit system like subway or sky train should be added to solve the future commute,” the chairman Nicolas You of the World Urban Campaign said.

Yangon, the commercial city of Myanmar, is already heavily populated and it is still lacking many infrastructures, analysts said.

“Low interest rate long-term loans from the World Bank or ADB will be needed for Urbanization of Yangon. Help from international community is also needed for funding. Japan and China can provide financing with low interest rate,” the managing officer Kenneth Stevens from Leopard Capital told an urban developing forum.

Analysts said, as the Yangon is transforming into metropolis, the metropolitan area and statellite townships should be developed better commute as well.